Culled—Proshare April 23, 2019/FBNQuest Research 10% avg. increase to our 2019-20E EPS forecasts Access Bank’s (Access) Q1 2019 results beat ours and consensus forecasts on every criterion. In particular, funding income was exceptionally strong, with a growth of 27% y/y and a positive variance of 23% relative to our forecast. […]
Results & Dividends
Unilever Nigeria Q1 2019: Gross Margin Sinks to Record Low on Persisting Sales Pressure
April 23, 2019/Cordros Report Event: UNILEVER published Q1-19 results after close of market on Thursday, showing declines across key lines: revenue (-20.8% y/y), EBIT (-60.4% y/y), and net profit (-20.8% y/y). Q1-19 revenue was lower by 20.8% y/y and 6.6% q/q, clearly indicative of lower volume outturn during the period. […]
GTBank Q1 2019 Report: Satisfactory Start to a Challenging Year
April 18, 2019/InvestmentOne report Net interest income of N58.2billion, up 12.4% q/q; down 2.5% y/y Non-interest income of N35.3billion, up 23.3% q/q, up 28.5% y/y Profit before tax of N57.0billion, up 9.6% q/q; up 8.3% y/y Profit after tax of N49.3billion, up 14.5% q/q; up 10.4 y/y GT Bank released […]
